reality. We first develop a martingale method to analyze the case in which the borrowing limit is specified by the debt-to-income … ratio limit and then extend this framework to deal with the collateral borrowing case in which the borrowing limit is …

Estonia, a new EU member country. The estimations show that indebtedness measured by the debt-to-income ratio and the debt …, substantially stronger during the recession than in the pre-crisis and post-crisis periods, while the negative effect of the debt-to-income … ratio is relatively stable over the sample period. The findings suggest that household indebtedness is amplifying the …

-to-yearly income ratio and by yearly debt service ratio. Household indebtedness, either measured as debt-to-income ratio or debt … effect of debt service ratio is detected for the recession. The upshot of the results is that it is not debt-to-income ratio … service ratio, show significant negative impact on their consumption change over the whole period of 2006-2011. However, debt-to-income …